Regulatory Fees
FEE types and effective rates
The following FEEs are applied to options trades.
| Type | When | Charged By |
|---|---|---|
| Trading Activity Fee(TAF) | Sells only | FINRA |
| Options Regulatory Fee(ORF) | Buys and sells | Options Exchanges |
| Options Clearing Corporation | Buys and sells up to 2750 contracts | OCC |
| Consolidated Audit Trail(CAT) | Buys and sells | FINRA-CAT |
The following FEEs are applied to equities.
| Type | When | Charged By |
|---|---|---|
| Trading Activity Fee(TAF) | Sells only | FINRA |
| Consolidated Audit Trail(CAT) | Buys and sells | FINRA-CAT |
See below the details of the effective rates:
| Type | SubType | Rate |
|---|---|---|
| CAT FEE | EES Rate | 0.000046000 |
| OCC Clearing Fee | Contract Rate | 0.020000000 |
| OCC Clearing Fee | Trade Cap | 55.000000000 |
| Options Regulatory Fee | Contract Rate | 0.026850000 |
| Options Trading Activity Fee | Contract Rate | 0.002790000 |
| TAF Fee | Min Rate | 0.000166000 |
| TAF Fee | Max Rate | 8.300000000 |
| TAF Fee | Qty Limit | 50,000.000000000 |
How Fees are charged and reflected in account balances
- Alpaca's trading system keeps track of the accrued FEE amounts intraday and deducts the pending amounts from account balances.
- At EOD, for each account, we charge the cumulative total for the given trading day.
- We round up the cumulative total based on currency precision to the nearest decimal place.
For example:
USD precision is 0.01, which means if the total cumulative for TAF came out as 0.00083, that would be
rounded up to 0.01, i.e., 1 penny.
Additional resources
Updated 28 days ago